As reported by DL News, analysts believe today’s Federal Reserve meeting could set the stage for Bitcoin to rally into the new year. With an 88% probability of a 0.25% interest rate cut, as shown by the CME FedWatch tool, crypto traders are anticipating a much-needed reprieve. DeFi Technologies president Andrew Forson stated that any rate cut reduces the riskiness of digital assets compared to US Treasuries. Meanwhile, Bitcoin’s price is currently above $92,000 after a 12% rally from November lows, and Bitcoin ETFs saw $152 million in inflows on Tuesday. Research analyst Mark Pilipczuk noted a historical pattern suggesting Bitcoin could reach $220,000 by next year.
Fed Rate Cut Expected to Boost Bitcoin to $220,000, Analysts Say
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